01 April Wednesday
These sales to close capitalist friends will compromise control over key sectors in the economy

BPCL Stake Sale Will Damage Country’s Sovereignty : CPI(M)

Web Desk‌Updated: Friday Nov 22, 2019

NEW DELHI : The government’s stake sale in BPCL and other blue chip public sector giants,  will destroy the country’s sovereignty, CPI(M) Politburo said in its statement.

Apart from BPCL, the Centre is set to privatise Shipping Corporation of India, Container Corp. of India,  THDC India and  North Eastern Electric Power Corp

The centre has also decided for disinvestments in the metal, energy and  power sectors.

CPI(M) has announced its support for nationwide strike on 28 Nov,  called by BPCL employees’ unions. The party had earlier declared its month-long stir in December, against  govt’s decision to offload stakes en masse.

The Modi administration plans to privatise 28 public sector units in the steel, engineering, construction, aviation, railway, ports, electronics and defence engineering segments.

These public sector majors are being monetised to meet govt’ unacceptable receipts target of Rs 110 Lakh Crore, the statement read.

Sale of profit-making majors to close billionaire friends is   aimed at taking control over country’s strategic sectors and will eventually starve the nation, the statement said. The centre should back out from such manipulations, it added.